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Obama Set to Appoint Pay Czar

Discussion in 'Political Zone' started by JBond, Jun 5, 2009.

  1. JBond

    JBond Well-Known Member

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    Obama Set to Appoint Pay Czar

    http://www.foxnews.com/politics/elections/2009/06/05/obama-set-appoint-pay-czar/

    WASHINGTON -- The Obama administration plans to appoint a "Special Master for Compensation" to ensure that companies receiving federal bailout funds are abiding by executive-pay guidelines, according to people familiar with the matter.

    The administration is expected to name Kenneth Feinberg, who oversaw the federal government's compensation fund for victims of the Sept. 11, 2001, terrorist attacks, to act as a pay czar for the Treasury Department, these people said.

    Feinberg's appointment could be announced as early as next week, when the administration is expected to release executive-compensation guidelines for firms receiving aid from the $700 billion Troubled Asset Relief Program. Those companies, which include banks, insurers and auto makers, are subject to a host of compensation restrictions imposed by the Bush and Obama administrations and by Congress.

    Wall Street has been anxiously awaiting more details on how the rules will be applied. "The law is confusing and a bit ambiguous, and so we're looking for certainty as to how to structure pay incentives," said Scott Talbott, senior vice president of government affairs for the Financial Services Roundtable, a trade association.

    The move comes amid a series of sometimes-overlapping efforts to curb pay at financial firms following perceived industry excesses that led to the lending boom and bust.

    The Obama administration earlier this year issued guidelines that include limiting salary for top executives at some firms receiving TARP funds and requiring that additional pay be in the form of restricted stock, vesting only after the company repays its debt, with interest, to the government. Congress then chimed in with even tougher rules curbing bonuses for top earners at firms receiving TARP money. As part of that effort, lawmakers barred those firms from paying top earners bonuses that equal more than a third of their total compensation.

    The White House has been wrestling with how to marry those two efforts, which in combination are more punitive than administration officials had intended.
  2. Doomsday101

    Doomsday101 Well-Known Member

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    Seems we have Czars all over the place, is the Obama Administration hinting at something? :laugh2:
  3. ABQCOWBOY

    ABQCOWBOY Moderator Staff Member

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    I wonder why we don't call them Fuhrers? I mean, why Czars and not Fuhrers?

    Heard that this morning and found it mildly amusing.
  4. Doomsday101

    Doomsday101 Well-Known Member

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    Well he has changed the words for terrorist to violent extremist I would figure he would want to change the term czar
  5. MetalHead

    MetalHead Benched

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    I got a question.
    When the White House carpet is dirty,do they call the cleaning crew,or does this administration has a Carpet Cleaning Czar?
  6. canters

    canters Active Member

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    Just another power grab by this guy. He wants total power whenever he can get it.
  7. sbark

    sbark Well-Known Member Zone Supporter

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    Robert Byrd, the longest serving senator in history, criticized President Obama's appointment of numerous White House advisors, also called "czars," saying the presence of the czars gives the president too much power.

    These czars report directly to Mr. Obama and have the power to shape national policy on their subject area. So far, Mr. Obama has recruited czars on health reform, urban affairs policy, and energy and climate change. Unlike Cabinet secretaries, they do not have to be approved by Congress.

    In a letter to Obama on Wednesday, Byrd, a Democrat, said that the czar system "can threaten the Constitutional system of checks and balances," Politico reported. Byrd added that oversight of federal agencies is the responsibility of officials approved by the Senate.
  8. sbark

    sbark Well-Known Member Zone Supporter

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    Robert Byrd, the longest serving senator in history, criticized President Obama's appointment of numerous White House advisors, also called "czars," saying the presence of the czars gives the president too much power.

    These czars report directly to Mr. Obama and have the power to shape national policy on their subject area. So far, Mr. Obama has recruited czars on health reform, urban affairs policy, and energy and climate change. Unlike Cabinet secretaries, they do not have to be approved by Congress.

    In a letter to Obama on Wednesday, Byrd, a Democrat, said that the czar system "can threaten the Constitutional system of checks and balances," Politico reported. Byrd added that oversight of federal agencies is the responsibility of officials approved by the Senate.

    .......in other words....is just another casual circumvention of the USA Constitution that everyone will get used to............
  9. ScipioCowboy

    ScipioCowboy More than meets the eye. Zone Supporter

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    Unquestionably, the notion of czars is problematic. However, before we criticize Obama for these appointments, we should compare his use of czars to that of previous administrations.

    Is Obama truly doing anything that is unprecedented?
  10. DIAF

    DIAF DivaLover159

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    Probably not. Im sure any sort of Presidential "task force" from the past had a similar head.

    I'm not sure I trust Obama 100% with anything, but I damn sure trust him more than this Congress and have no problem with a "Czar" removing them from the equation. Having worked in a Federal Agency before, I can tell you that it takes nearly an act of God for anything to go anywhere. Congress is just mad because they smell money and don't like it when they aren't 100% in control of the pursestrings.
  11. ShiningStar

    ShiningStar Well-Known Member

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    So you are all for replacing incompetence with more incompetence? Great, big help here. Who says the Czars, 1) Have clue 1, 2) are more efficient and 3) are going to get the job done right?

    Who checks these people if they do wrong?
  12. DIAF

    DIAF DivaLover159

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    Certainly not Congress, that's for damn sure. Who checks them? The voters? We just keep voting the same 'tards in, no matter what, year after year.

    Look, I'm sure nobody here cried when Republican presidents appointed special advisers that helped shaped policy, let's not do it now because you despise the current President. Obviously, you don't want your appointees to be incompetent, but you don't really know that until they are on the job. You can't go back in time and redo the election. Obama is here, and we've all got to live with it. Best we can do is hope he does at least a few things right.
  13. ShiningStar

    ShiningStar Well-Known Member

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    Listen, i didnt like it with Bush, but even you cant deny we got more Czars than Russia, okay, so dont pick the attitude with that, its not going to work. Incompetent people are incompetent people, why do you think the Head of the CIA was put there, he had no problem with Pelosi calling them out did he? Did he attack her, noooooo. He doesnt belong there plain and simple. Neither do the other Czars, really Napalitano, Border Czar. Come on, the border can be taken care of anytime, you know it I know it.

    Stop with the excuses, Obama is on a power trip, you cant see it, thats fine, I dont expect you to. Dont go around saying people are hating on him cause we're not, again, its his policies of socialism and power hungry that are scaring people.
  14. DIAF

    DIAF DivaLover159

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    You are assuming everyone Obama appoints is grossly incompetent automatically. And you've got the gall to tell me I'm somehow blinded?

    Excuses? I'm not making any excuses, he's doing now what other, INCLUDING REPUBLICAN, presidents have done. You can keep whining about everything Obama does if it makes you feel better, no skin off my ***.
  15. ShiningStar

    ShiningStar Well-Known Member

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    tell me how im wrong, who has appointed more Czars than this guy? Do you really feel comfortable with Geithner? Shall i bring up every tax invader? Just cause you love you some Obama doesnt mean the rest of us are wrong for calling the guy on things he is failing on.

    im sorry if you liked that we dumped money into GM AFTER he screamed it was to big to fail and by giving it money it wont go bankrupt.

    Im sorry if you believed him when he screamed this was the worst recession or depression ever and jammed that stimulus package down our throat.

    he is failing on some subjects and people are calling him out on it.

    HE said this is transparent and if hes wrong, call him on it and we are. If you dont like get over yourself.
  16. MetalHead

    MetalHead Benched

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    Shining,you'd have better luck arguing/reasoning with your house pet.
    Just a thought...
  17. ShiningStar

    ShiningStar Well-Known Member

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    the love fest for a guy hwo has accomplished nothing is just absurd. Also, who do you think does half my posts. My itty bitty kitteh. But he got disgusted and left.
  18. DIAF

    DIAF DivaLover159

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    You are absolutely ridiculous. First of all....

    The argument is not how many "Czars" he is appointing, you said they were all incompetent. Nice strawman attempt there.

    I do NOT "love me some Obama", I just dont like dishonest criticism. We all didn't like it when Bush was in office, now lets at least reciprocate.

    We did not need to go throwing money at GM. See post history.

    Nobody ever said that, either. Not even Obama. Some stimulus was welcome, however the Porkulus was not.

    You only want transparency when it's YOUR guy in office. When it isn't, oh boy, off come the gloves. What adminstration have we ever had that was actually TRANSPARENT? That's just lip service to make every one feel good. Americans shouldn't expect government to be transparent. Why? Because it's never, ever going to happen no matter how much you want it. Power + money + political opposition that wants your head = lack of transparency. So long as politicians exist, so long will we never have transparency in government.

    oooooh sssssasssyyyy!

    You can't even articulate your argument without tossing out strawmen and exaggerating to the nth degree. Unhinged much?

    So, telling someone that is screaming at the top of their lungs that Obama is a socialist/communist/whatever that they are exaggerating a wee bit much is "lovest for the guy"?

    Is this even in english? What the heck are you talking about?
  19. ShiningStar

    ShiningStar Well-Known Member

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    Dont tell me Obama didnt scream this was the worst recession or depression, they wanted it known real well to the voters that Bush got them in a recession and he was going to get them out.

    http://www.msnbc.msn.com/id/27460758/

    Dont even tell me im silly, IN his OWN WORDS.




    Again no dishonest criticism, shall we bring up the tax evaders again.

    http://blogs.abcnews.com/politicalpunch/2009/01/bumps-in-the-ro.html

    And that was before the other ones.



    About the transparency:

    http://www.whitehouse.gov/the_press_office/TransparencyandOpenGovernment/

    AGAIN IN HIS OWN WORDS




    And this is tracking the 3.5 million jobs he screamed to save. Now it is save or created.

    http://understandingthemarket.com/?p=63


    Your love fest for the guy is out of hand. I dont care if you do it, you have that right, just admit it and move on.
  20. DIAF

    DIAF DivaLover159

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    That article says "significant recession". Which it is. Not "worst recession or depression EVER" which is what you said in your own words.

    Also, that tax evader article is talking about his picks for HHS Sec, which is a cabinet pick. We are talking about the czars, which are not cabinet level positions.

    You just linked to two articles which actually CONTRADICT your arguments.

    Love Fest? Hardly. I didn't vote for him. But in your mind and in the mind of most people on this board, if you don't see Obama as the Devil Incarnate, you "love" him.

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